Fauji Fertilizer bin Qasim's losses increase by 36% during half year ending on 30th June 2018: Earnings reports

By MG News | July 31, 2018 at 09:31 AM GMT+05:00

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In a Board of Directors meeting held on July 30^th 2018, Fauji Fertilizer bin Qasim Limited discussed their financial earnings for the Half Year ending on June 30^th 2018.

As compared to the half year ending on June 30^th 2017, The Company’s Net Sales increased by 41.2% whereas Gross Profit went up remarkably by 313%.

Fauji Fertilizers managed to reduce their Administrative Expenses by 5.4% but their Other Operating Expenses increased by 1056%.

Other income dropped by 66.4%.

Overall loss after taxation increased by 36.2%.

Profit and Loss for the Half Year Ended June 30,2018
	2018	2017	% Change
Sales-net	27,115,806	19,208,065	41.2%
Cost of Sales	(22,571,471)	(18,109,216)	24.6%
Gross Profit /(loss)	4,544,335	1,098,849	313.6%
Selling and distribution cost	(3,061,782)	(3,002,938)	2.0%
Administrative expenses	(952,921)	(1,007,177)	-5.4%
	529,632	(2,911,266)	-118.2%
Finance costs	(2,260,366)	(1,550,935)	45.7%
Other operating expenses	(759,900)	(65,549)	1059.3%
	(2,490,634)	(4,527,750)	-45.0%
Other income	1,103,866	3,288,529	-66.4%
Loss before taxation	(1,386,768)	(1,239,221)	11.9%
Taxation	(255,430)	33,339	-866.2%
Loss after taxation	(1,642,198)	(1,205,882)	36.2%

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